most prior sale house in Seattle is wonderful now: a historic villa of $ 15 million per day with elegant and modern offers a magnificent view of the Capitol Hill.
But one of the unique features of the Sam Hill Mansion is equally surprising: an invoice from the property tax of $ 0th
It is one of two houses in King County with deductible property taxes. The owner of the 106-year stay in East Highland Drive has paid property taxes for six years on it, although property taxes Seattle 25 percent increase in the past four years.
Properties $ 0 King County Historical property taxes, and its current estimate
Western - Lofts building / warehouse, Pioneer Square: $ 16,600,000 review
Museum of History and Industry, South Lake Union: review $ 13 million
Furuya and Corgiat office building Second and Main, Pioneer Square: $ 10,700,000 review
Milwaukee Hotel Industry Pioneer Square: $ 2,800,000 Review
Sam Capitol Hill Mansion: $ 2,600,000 Review
Youngs Cultural Arts Center, West Seattle: $ 2,600,000 Review
Windham Apartment Bell: $ 1,600,000 Review
House 1073 Summit Ave E., Capitol Hill: $ 993,000 judgment
Masin commercial real estate in Washington, and secondly, Pioneer Square: $ 803,000 judgment
Source: Office of the King County Assessor
The mansion was making waves in the local community property if it has been published by $ 15 million last week, a week or $ 3 over the following list of the most expensive in Seattle million. The five bedrooms, 6 ½ -Bad recently undergone a renovation of several million dollars and is more than seven times greater than the typical house in Seattle.
It has a roof - terrace with a spa, indoor gym, elegant features, like a whole new house look more than a century old castle.
How has the tax liability of zero happened?
To promote the owners officially to repair historic properties their relics, the State can pull off what they on the rehabilitation of the values used spent property taxes for 10 years to determine. Around 60 properties in King County to the program.
However, the Committee determined in nine cases city'sLandmarks Backup has exceeded rehabilitation works value of the total value of the property, the cancellation of the entire project.
Seven of them are commercial real estate, a museum and cultural center included. Then there was an old three - room - house in Congress, and Sam Hill Mansion.
The tax saving is significant: A current estimate of the Hill Mansion, annual property taxes approximately one quarter of $ 24,360, almost would be a use of the exemption of 10 years over the life of millions of dollars, this is not based on a tax base of $ 2.6 million. what a fraction of the price list, the office of assessor to inspect the house not recently been refurbished at a cost of $ 6.4 million.
The owners, former leader of Vulcan David Capobianco and his wife, Rosangela could get the money, which marks its exemption back and then some: If the house is sold by its selling price, which more than 11 network had before he $ 7,000,000 paid nine years for them.
David Capobianco, now CEO of an energy company based investments in Texas, moved to Houston with his wife. (He was the last of the news when he and a former colleague won a court battle 20 million to $ by Paul Allen, Vulcan Capital fired him in 2008)
A stand -. Word of the couple she said with historians and "worked the left have no stone unturned," the house to remediate note of the changes will increase the value of the case were, "the house make to its former glory," likely , after 10 years of liberation in more property tax revenue resulting ends in the 2021st
The Capo Bianco is $ 1,850 paid per year in property taxes in a separate addition to the vacant house that is included in the sale of land. And the Manor to reduce $ 894 annual fee for the services separately rainwater, weeds and other door.
"We are deeply honored to have lived in this historic building, and have a thorough restoration carried out, all property," said David Capobianco in a statement in response to a request for comment. "But for my professional obligations in Houston, our family from home benefits for many years would come to."
Another reason for obtaining the contribution is zero, as the County Assessor Office property values - pay to $ 2.6 million, which is less than the Capo Bianco for them a decade before the major renovation Redfin, now believes the house is. worth $ 14.1 million.
The tax base is important: to pay In the assessment of $ 15 million, even with the tax break owners $ 81,800 per year.
Bailey Stober, a door - word of the Bureau of the evaluator of the work said repairs would not necessarily increase the value of the house.
The agency last checked the house, where there was the first wave of work in progress and not be reviewed before next year.
"So, until the announcement went online, we had no idea what saw the inside of the house," Stober said.
Instead, it is relying on a market analysis, the luxury - can be difficult homes with few comparable sales, and would be particularly difficult because of the uniqueness of the Sam Hill Mansion and its rear rich was to entertain leading from the built Businessman foreign dignitaries. . Among his eccentricities they had a hill header - key used to turn off all lights on the property, and a small door to a secret passage leads.
Hill also built the Peace Arch on the border between Washington and Canada, and a replica of Stonehenge Maryhill near his villa on the Columbia River.
Stober said the Office of the evaluator found that a house was 3,000 square feet larger in the area, as estimated and sold two years for $ 7.7 million before, only half of the selling price of Capo Bianco home.
"If the sale is made, we will this data with the data collected during the physical inspection, to set alongside a new value," said - it.
We do not know what the interest was in the house during the first week on the market for real estate site slowed in the list first adopted, as the listing agent did not respond to requests for comment.
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